Polar Asset Management Partners Inc. Boosts Stock Position in Core & Main, Inc. (NYSE:CNM)

Polar Asset Management Partners Inc. lifted its position in shares of Core & Main, Inc. (NYSE:CNM - Free Report) by 12.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 76,900 shares of the company's stock after purchasing an additional 8,800 shares during the period. Polar Asset Management Partners Inc.'s holdings in Core & Main were worth $3,915,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its position in Core & Main by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 18,219,997 shares of the company's stock valued at $927,580,000 after purchasing an additional 221,970 shares during the last quarter. FMR LLC increased its stake in shares of Core & Main by 4.1% during the fourth quarter. FMR LLC now owns 9,055,993 shares of the company's stock valued at $461,041,000 after buying an additional 358,909 shares during the period. Invesco Ltd. increased its stake in shares of Core & Main by 0.8% during the fourth quarter. Invesco Ltd. now owns 5,926,569 shares of the company's stock valued at $301,722,000 after buying an additional 44,513 shares during the period. Bessemer Group Inc. raised its holdings in shares of Core & Main by 0.5% during the fourth quarter. Bessemer Group Inc. now owns 3,835,182 shares of the company's stock valued at $195,250,000 after acquiring an additional 20,756 shares in the last quarter. Finally, Royal London Asset Management Ltd. lifted its stake in Core & Main by 1.3% in the fourth quarter. Royal London Asset Management Ltd. now owns 3,810,739 shares of the company's stock worth $194,005,000 after acquiring an additional 48,833 shares during the period. 94.19% of the stock is currently owned by hedge funds and other institutional investors.

Core & Main Stock Up 0.1%

Shares of NYSE CNM traded up $0.07 during trading on Friday, reaching $54.80. The company had a trading volume of 2,320,463 shares, compared to its average volume of 2,335,945. Core & Main, Inc. has a 12-month low of $37.22 and a 12-month high of $58.29. The company has a quick ratio of 1.28, a current ratio of 2.14 and a debt-to-equity ratio of 1.36. The business's 50-day moving average is $50.97 and its 200 day moving average is $51.15. The stock has a market cap of $10.84 billion, a PE ratio of 25.73, a P/E/G ratio of 2.61 and a beta of 1.04.

Core & Main (NYSE:CNM - Get Free Report) last announced its quarterly earnings data on Tuesday, March 25th. The company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.03). The firm had revenue of $1.70 billion for the quarter, compared to analysts' expectations of $1.67 billion. Core & Main had a net margin of 5.71% and a return on equity of 24.71%. The business's revenue for the quarter was up 17.9% compared to the same quarter last year. During the same period last year, the company posted $0.34 earnings per share. As a group, equities analysts forecast that Core & Main, Inc. will post 2.16 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have commented on CNM shares. Wells Fargo & Company upped their price objective on shares of Core & Main from $62.00 to $65.00 and gave the stock an "overweight" rating in a report on Tuesday, February 4th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Core & Main in a research note on Tuesday, April 1st. They issued a "buy" rating and a $60.00 price target for the company. JPMorgan Chase & Co. lifted their price objective on Core & Main from $54.00 to $56.00 and gave the company an "overweight" rating in a research report on Tuesday. Royal Bank of Canada decreased their target price on Core & Main from $62.00 to $60.00 and set an "outperform" rating for the company in a research report on Wednesday, March 26th. Finally, Robert W. Baird lowered their target price on Core & Main from $66.00 to $65.00 and set an "outperform" rating for the company in a research note on Wednesday, March 26th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Core & Main presently has a consensus rating of "Moderate Buy" and an average target price of $57.91.

Insider Activity at Core & Main

In other news, EVP John R. Schaller sold 21,868 shares of the firm's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $46.82, for a total transaction of $1,023,859.76. Following the sale, the executive vice president now owns 16,452 shares of the company's stock, valued at $770,282.64. This trade represents a 57.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO John Weldon Stephens sold 10,214 shares of the business's stock in a transaction on Monday, April 28th. The shares were sold at an average price of $53.02, for a total transaction of $541,546.28. Following the sale, the chief accounting officer now owns 4,120 shares of the company's stock, valued at approximately $218,442.40. This represents a 71.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 83,839 shares of company stock valued at $4,222,368 over the last 90 days. Corporate insiders own 3.53% of the company's stock.

About Core & Main

Core & Main, Inc is a specialty distributor focused on water, wastewater, storm drainage and fire protection products, and related services. The company provides infrastructure solutions to municipalities, private water companies and professional contractors across municipal, non-residential, and residential end markets, nationwide.